A slew of new luxury stores have opened along the upper reaches of Madison Avenue between East 79th and 86th Streets. That’s because those scouting for spaces are being sent north by rising rents to the south.

“It’s almost all nationals now,” said Joanne Podell, vice chairman at Cushman & Wakefield, of the new tenant mix. “It’s retailers that were priced out south of 79th.”

According to the Real Estate Board of New York, asking rents along Madison Avenue between 57th and 72nd Streets “surged 24 percent to $1,643 per square foot.” Newer projects are asking $2,000 per foot, so retailers are locating to the more affordable 79th-to-86th Street corridor where rents range from $300 to over $400 per foot. Even at 96th Street, rents are heading to $300 per foot brokers say.

“Building owners in the low 80s are clearing out tenants and pushing the market rents up 20 to 25 percent,” agreed Patrick Breslin, executive vice president of Studley Retail.

That’s created a cross section of new tenants ranging from Joseph at No. 1061, to the Houston-based luxury brand, Elaine Turner at No. 1091 and shoe store Mephisto at No. 1089.

Hästens luxury bedding is located on Madison Ave.Photo: J.C.Rice

James Perse has also opened at the former Searle at No. 1128 while Halston Heritage replaced Anik at No. 1122.

Jonathan Adler’s eclectic furnishings at No. 1097 are a major draw, said Matthew Bauer, President of the Madison Avenue Business Improvement District. Ristorante Morini opened at No. 1167 between 85th and 86th Streets “so now there is a great restaurant” added Bauer.

The Donald Zucker-owned company Manhattan Skyline just leased a retail condominium to the J.Crew-owned Madewell, which is now bookended by the Starbucks-owned Teavana Fine Teas + Tea Bar in No. 1142 and Lululemon Athletica in No. 1146.

Madewell is opening a new location in uptown on June 21.Photo: J.C.Rice

“As owners we are thrilled about what is going on and retailers coming in that are not just luxury, but high end,” said Joshua J. Roth, vice president of retail leasing at Manhattan Skyline.

A few years ago, Bolton’s discounted women’s wear at 86th Street was replaced by Brooks Brothers. “Going from Bolton’s to Brooks Brothers is a telling statement,” added Roth.

“There are more professionals but it’s also family-oriented, so there are several luxury children’s stores,” said Faith Hope Consolo, chairman of Douglas Elliman Retail.

How long “relative affordability” will last is a big question, Consolo added.

Karen Bellantoni, executive vice president of RKF, the company which represented Madewell and both sides of the previous Helmut Lang deal at 1155 Madison Ave., said, “That corridor is very strong. New York is terrific and lots of deals are getting signed. It usually gets quiet now and all the brokers are super busy.”